JackR

I'm told he has not used it, except that, from time to time, he'll say it agrees with his trend indicator. If you'll look at the YouTube video (post #98), you'll see his screen. Top part has price and nine moving averages, next is volume, next his trend, next TTM squeeze, bottom is RSI. The TTM squeeze replaced a standard MACD. The left-hand window showing the price quotes normally has the Infinity DOM in the top two-thirds of the screen, with the bottom third displaying another window, showing a more limited number of price quotes. You can see this for yourself by looking at some of his back YouTube stuff.

Lots of trading boards have been "interested" in the $312K loss. Hoffman put out a video to calm things down. Here is the link. It's 5 minutes long.. ‪Handling a Loss as a Professional Trader‬‏ - YouTube Here is a brief extract from a comment about the video from another board. This guy babbles on and on without ever talking about his "impressive drawdown". No mention of the important thing...how much did he lose on Thursday vs how much he normally makes on a winning day. (snip) If you want to blow out your account, this is the guy to learn from. Jack

Corey was being a bit misleading with his post - He left off the last line of Carter's eMail. It said: FROM THE DESK OF JOHN CARTER: Dear Trader, There are streaks that have been mathematically proven to be impossible: Baseball has Joe DiMaggio's 56 game hitting streak Football has Brett Favre's 297 consecutive game streak Hockey has Wayne Gretzky's 51 straight games with a point [And, now traders have Rob Hoffman's 535 straight days without a losing trade That's right. If you haven't heard, it's over. Carter (TTM) then goes on with some marketing stuff about looking things over and seeing what comes next. He never mentions the $300K loss, but he does say there was a losing trade. If you (Corey) are going to damn them, do so ethically. TTM is a marketing machine, but Carter and Senters both trade and both uses stops. I'm sure they were both shocked at how stupidly Hoffman acted. Jack

Hoffman blew up today. He had Martingaled short about 852 TF contracts and was down about $250K when the system (He uses Infinity) locked the account and closed his position. Total loss about $312K as I guess the Infinity system closed him out with a market order.. I think his ego got to him. There were many times during the 1 1/2 hours he was in the trade that he could have gotten out with a small loss or profit in the $3K to $5K range. He has a number of trend indicators that were all showing down and getting worse, but he ignored them, though he almost never mentions them when he trades. To top things off he then had to leave for a three hour dental procedure. Jack

Because 900 members @ $260/mo = $2,808,000 year risk free (divided by three partners - Carter/Senters/Hoffman. It took TTM close to two years to get Hoffman to join them. He trades a real account - you can see his orders appear in the DOM when he starts putting in size. I'm new here but I've been a poster on ET for many years.

The "struggling trader" benefits from learning his techniques and adapting them to their own use. Well before entering his trades he discusses what he is looking for. He also rates them on a conservative to aggressive scale. Conservative meaning a very high probability that no scaling is expected, aggressive meaning that scaling will almost certainly be needed. During the trade he explains what he is doing. After the trade (or non-trade if he did not get in) he analyzes what happened. I haven't counted but if he has used his proprietary indicators (there are two) once in 50 trades, that is a high number. If you want to mirror his trades with a small account you can do so on his conservative trades. For the rest you look and learn. As to being subject to marketing from outside brokers - Hoffman has used Infinity for many years. He uses an Infinity DOM (ladder) to trade with. Many people joining his room, especially stock traders, have never seen a DOM. They ask what he is doing. He explains and directs them to a two hour video he made on how to use its features. Infinity makes the DOM available as a live data simulator to customers and non-customers. Infinity is a reputable broker (not mine), what's wrong with Hoffman having a deal with them? About TOS - I said that TTM seems to be getting into some type of marketing deal. I have no real information on what it will be. I can conjecture. Tradestation, TTM's preferred platform at this time, is very expensive, both from a platform and data perspective. It has also been rather unreliable lately. TOS is the opposite. TOS has always made all its stuff available for free, including market data. TOS' futures execution is\was very poor. TOS was founded by options traders and grew hugely during the great options growth period. Now they are working on getting up to speed in the retail futures world. If you have a TOS account you'll get all TTM's (Hoffman's +) proprietary indicators "free". TOS pays for them, you pay via your commissions. You can negotiate commissions with Infinity but they are not cheap for a low volume trader. If TOS matches Infinity in execution and you get the indicators for no additional cost where would you go? You said "to me, this isn't much help." Well you say you are successful so you probably wouldn't benefit. However, someone who needs help might get it if they can truly devote three months to the room. The purpose of my post was to provide information in an objective manner, not tout the room.

Before Hoffman was associated with TTM he had about 200 room members, many of whom were with him for years. They have his cell phone number. Most are experienced traders. They were (are) scattered around the world. After normal room hours if they saw a Hoffman-style trade developing they'd text Hoffman and he'd trade. By having a worldwide set of watchers, reviewing a number of instruments, he effectively had (has) a very sophisticated scanner running 24 hours a day. His setups are all high probability and occur relatively infrequently in any single instrument. However, because of his smart human "scanner" he sees many more trade opportunities than an individual trader would. Thus, he can trade relatively frequently. He trades only futures like 6B, 6E, 6J, CL, GC, NG, and TF. He hates the ES. He generally starts with a single contract but does scale-in when a position moves against him. He can and does scale rather significantly (say 200 - 500 contracts) the further the position goes against him. He trades trend and counter-trend, but generally on pull-backs. Since his association with TTM he has been trading less frequently (getting into a position, not necessarily entering fewer orders). I think that the 900 or so room members he now has coat-tail his trades (and in my opinion often front-run him). I think this has affected the markets he trades to some degree and does not allow him to enter as often as he used to. It also limits his profits as he is forced to take smaller gains. He is exceedingly conservative and is rarely in a trade for more than 15 minutes. His room is good for learning price action, but unless you can truly devote nearly full-time to it, you'll probably spend more on the room than you make if you have a small account. You cannot follow his trades without a six figure account. However, in my opinion, one three month sign-up, if you can be in the room daily from 8:15 AM to Noon, Eastern, is worth the $800. You will definitely learn about price action and S/R levels, They also provide 32 hours worth of videos when you sign-up. They haven't attempted to sell any "indicators" - yet. He does show two proprietary indicators on his screens, but he primarily uses moving averages and pivots, none of which are proprietary. It is my belief that they will push the indicators once Thinkorswim and Infinity have them ready on their charting platforms. They seem to be getting into some type of marketing deal with TOS and currently push new students to Infinity as a broker.